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Monthly Archives: November 2015

With holiday sales projected to increase by 3.7 percent this year, merchants are looking forward to ending 2015 with a bang. But, with the slow adoption of EMV®, it’s quite possible that the criminals, thieves and frauds could put a damper on your holiday cheer (and profits). The good news is that you can help prevent fraud by taking these key steps:

Look for Abnormal Behavior

Of course, there are the obvious tells that someone is doing something they shouldn’t be—they’re in a rush, they won’t make eye contact with you, they seem jittery, etc. But also know that every industry has its own type of clientele with unique buying habits. For example, in the jewelry industry, it’s quite common for customers to negotiate prices. If a customer comes in and has no problem forking over the actual ticket price for a high-priced item, it could be a red flag for fraud. Identify some key behaviors of your typical customers, and use these as a benchmark for identifying fraud moving forward.

Keep Good Records

Let’s say a customer comes in and claims that you charged them for an item they didn’t buy. This scenario could play out in a few ways:

The customer made the purchase, but is running a scam

The cashier made a mistake and rang up an incorrect or duplicate item

The purchase was made with the customer’s stolen credit card (or a fake card with the stolen number)

While it’s important to handle this situation delicately, in case the mistake is on your end, it’s critical to verify the customer’s claims before making a refund. The proof is in the paperwork. This is where organized receipt archives come in handy. Pull up any receipts that are tied to the customer’s credit card. Verify that charge did take place, then take a look at the signature field and compare it with the signature on the customer’s ID. Signed documentation (i.e. receipts) can help you win a dispute against a customer who is trying to take advantage of the chargeback system. If you’re looking at a potential mistake on your end, but the customer signed off on the transaction, it’s up to your discretion whether or not you make the refund. If it turns out that the purchase was made with a stolen card, the liability will fall on the card-issuing bank (as long as all EMV requirements have been met).

Train Your Staff

We can’t stress enough how important it is that you train your staff on proper processes for handling credit card transactions. Now’s the time—before the holiday sales rush hits full speed—to hold a workshop for your employees on maximizing security and preventing fraud. Not sure where to start? The Abtek Team is here to help. Give us a call today at (800) 544-9145 to discover how we can help you prevent in-store credit card fraud this holiday season.

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Mobile wallets continue to gain popularity among consumers, but they’re struggling to gain wide-spread adoption amidst a market of competing platforms. A survey by Trustev showed that only about 20% of compatible iPhone users and 14% of compatible Galaxy users have ever used the mobile payment feature on their phone.

So what’s holding people back? According to recent reports, the top challenges facing mobile wallet adoption are fear of identity theft (68%) and merchant acceptability (33%). But, as security technology continues to improve and more and more merchants upgrade their POS systems, we expect these concerns to dwindle in the not-so-distant future.

With each new mobile payment platform launch, the payment landscape is gaining complexity. To help you get up-to-speed on the latest and greatest in mobile wallets, we’ve provided a comprehensive list of the current options and the pros and cons of each platform.

Apple Pay

Arguably the most popular mobile wallet platform to-date, Apple Pay, is a payment system that allows users to make purchases via their smartphone by hovering it near an NFC-enabled credit card terminal.

Pros: Apple Pay is accepted at more than 700,000 retail locations and is supported by 2,500 banks and credit card issuers. Transactions made through Apple Pay are tokenized, which maximizes data security. A fingerprint scanning feature also boosts security.

Cons: The provisioning process for adding a payment card to an Apple Pay account lacks security, which is causing credit card thieves to turn to this platform to make fraudulent purchases. Additionally, Apple Pay is not accepted at Wal-Mart.

Android’s answer to Apple Pay, Android Pay is a similar platform in which users can make payments from their smartphones to an NFC-enabled terminal.

Pros: By the end of the year, Android Pay is expected to be accepted at just as many stores as Apple Pay (more than 700,000) as well as in a large number of apps. The platform, powered by Google, also uses the secure payment process of tokenization.

Pros: Users are able to make mobile payments at terminals that are not NFC-enabled. The phones are equipped with technology that allows them to be “swiped” like a magnetic stripe card, making Samsung Pay is the most widely accepted mobile wallet.

Cons: The magnetic stripe feature doesn’t always work as well as intended.

Compatible Devices: Samsung Galaxy S6 and Samsung Note5 or later

Chase Pay

JP Morgan Chase has partnered with MCX and is expected to launch a new mobile wallet platform, Chase Pay, in mid-2016. Instead of using NFC technology like its competitors, Chase Pay will generate a unique QR code for each transaction that the cashier can scan.

Pros: Not all terminals are equipped with NFC technology, so the fact that this platform uses QR codes will significantly increase its acceptability. Additionally, since Chase has partnered with MCX, the wallet may have an edge with retailers who are resisting Apple Pay, such as Wal-Mart, Target, Best Buy and Shell.

Cons: The QR code process may not be as simple and efficient as competing NFC methods.

Compatible Devices: The app is expected to work with most Android and Apple phones

On top of these mobile wallets, other digital platforms, such as Snapchat and Facebook, now enable users to send money via personal message. With this rapid expansion of digital and mobile payment capabilities, the near future of the payment industry holds a lot of promise for change and growth. Stay tuned on the latest industry trends by following Abtek on Facebook, Twitter and LinkedIn.

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The holiday shopping season is quickly approaching, and you know what they say—“It’s the most wonderful time of the year!” As data indicates, this year should be the most profitable yet, with 82% of merchants expecting their holiday sales to increase from the previous year. Make sure that you’re prepared for the boost in customer traffic (and sales) with these four tips.

1. Adopt EMV Now

If you haven’t upgraded your POS equipment to for the new EMV chip cards, it’s time to do so. Accepting EMV technology at your store is critical for ensuring the security of your customers’ payment data. Plus, if a fraudulent charge occurs at your establishment, and the victim had a chip-enabled card, you bear the responsibility of paying for the loss. To minimize potential liability, you’ll want to get this installed quickly, before the holiday rush is in full swing. You will need time to properly train your staff on how to use the new system.

2. Ramp Up Hiring Efforts to Ensure an Enjoyable Shopping Experience

Lines will be longer than usual, aisles will be more crowded, and as always, customers will be in a hurry. Take measures now to ensure that your customers’ shopping experience will be enjoyable, no matter how busy your store gets. Ramp up your hiring efforts so that you can operate smoothly at full capacity. Consider bringing on specialized employees to assist with decorating the store, gift-wrapping, de-icing any slippery conditions outside and other seasonal needs.

3. Make Sure You’re Working with a Payment Processer You Trust

Between the increased customer traffic, extra-large seasonal inventory, and recent changes in payment processing (EMV), things might get a little messy this holiday. When you’re hit with a chargeback, whether “friendly” or not, you’re going to want to be sure that you have a payment processor in place that will fight for you and be available to answer your questions 24/7.

4. Don’t Forget About Gift Cards!

Gift cards continue to be the most asked-for gift item, making the wish list for 62% of shoppers, according to reports from NRF. The average person buying gift cards will spend $172.74. Are you taking advantage of this huge sales opportunity? If you’re still offering paper gift cards, it’s time for an upgrade. Talk to your payment processor about putting a stored value card program in place at your store.

Black Friday will be here before you know it, and if you haven’t begun to prepare, you may already be falling behind the competition. For more tips and tricks on how to prepare for the holiday shopping season, follow Abtek on Facebook, Twitter and LinkedIn! Or, to learn more about your payment processing options, give us a call at (800) 544-9145.